Xanadu Mines (XAM) Company Presentation summary

Project overview and strategic positioning

• Kharmagtai is a large-scale copper-gold porphyry system in Mongolia, 120km from Oyu Tolgoi, with a 30-year mining license and potential for a 40-year extension.

• Mongolia offers a stable mining jurisdiction, strong infrastructure, and proximity to China, the top global copper consumer.

• Xanadu Mines leverages deep local expertise and operates to high ESG standards.

Resource and reserve highlights

• 2024 resource estimate: 2.2Bt at 0.21% Cu and 0.15g/t Au, totaling 4.7Mt copper and 11Moz gold.

• Ore reserve: 730Mt at 0.21% Cu and 0.17g/t Au (1.6Mt copper, 4Moz gold), all classified as probable.

• Strong growth potential remains at depth and along strike.

Pre-feasibility study and economics

• PFS completed October 2024, confirming a 29-year LOM with average annual output of 75kt copper and 165koz gold.

• Post-tax NPV: US$930M, IRR: 21%, payback: 4 years, pre-production capex: US$890M.

• First quartile C1 cash cost: $0.70/lb copper for Stage 1.

• Open pit, low strip ratio, conventional flotation plant with gravity and CIL for gold recovery.